Garden city Bangalore is considered as the country’s foremost information technology (IT) exporter. There are many multinational companies in Bangalore such as Robert Bosch Engineering India, Capgemini, Honeywell, Ericsson, etc. and many more are concerning to come. Lately the Bangalore’s economy is constant by the IT/ITES sector and various other sectors such as biotechnology, automobile, aviation and textile, etc. All this is directly improving the commercial real estate growth in Bangalore. The IT/ ITES Offices and SEZs are located in towards Eastern and Southern Bangalore areas: Electronic City, ORR, Sarjapur Road, Whitefield, Hebbal etc. The areas where there are many high-end corporate offices are located in Bangalore Central Business District – like Commercial Street, Residency Road, Langford Town, MG Road, Brigade Road, Cunningham Road, Richmond Road etc.
Below are given some Reasons for Growth of Commercial Real Estate in Bangalore:
- Considerable Pricing: The real estate developers in the city stick on to cautious pricing plan for commercial properties. It finally results in a real estate market that is guided by the consumer demand. There are different options available to the investors to choose from such as ready-to-move commercial properties and under-construction commercial properties.
- Better Road Network: The road network of the city is distinguished by Hosur Road, NH7, NH4, Outer Ring Road (ORR), Ring Road, City Radial Road, NICE Road etc. The roads are well constructed and ensure safe driving experience.
- New planned Projects: Namma – Metro train proposed project is also attracting many companies to come and operate their business from the city. With the help of metro, people would be able to reach their offices at far locations with no difficulty. There are many other proposed projects such as Monorail and High Speed rail Link, which would make travelling in the city easy and fast.
- Availability of Manpower: The commercial real estate in Bangalore is also growing fast due to the increase in the rate of migration by people from other states of the country. Bangalore has varied demography. The population in Bangalore has increased by an annual rate of 3.9% over last 2 decades. So, there is a large collection of talent available in the city and it is one of the top reasons attracted by the companies.
The commercial real estate in Bangalore is booming fast because of reasons have been discussed above. The availability of manpower, Considerable pricing and easy travelling all these are contributing to the growth of commercial real estate in Bangalore tremendously.
Source and image : Net.